OPT IN for Overdraft Services Online
You’ll find a convenient online Opt-In form at the bottom of this page.
What You Need To Know About Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover either a check or electronic fund transfer transaction (such as your debit card), but we elect to pay it anyway. We can cover overdrafts in two different ways:
1. We have standard overdraft practices that come with your account. They are covered in Provision 6.j. and the Electronic Fund Transfer disclosure of the MSA Part 2. 2. We also offer an overdraft protection service that draws funds from your savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these services or our overdraft plans (or read about them in Provision 6.j. and the Electronic Fund Transfer disclosures of the MSA Part 2). This notices explains our standard overdraft practices.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number.
- Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- Everyday debit card transactions
We do not authorize and pay overdrafts for ATM transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transactions (which generally will occur because you have not authorized a transaction, exceeded the overdraft limit, or have an outstanding balance that has not been repaid).
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if you pay my overdraft(s)?
While there is no charge to authorize us to pay your overdrafts, under standard overdraft practices:
- We will charge you a fee of up to $30.00 each time we pay an overdraft.
- Also, if your account is overdrawn for five (5) or more consecutive business days, we will charge an additional $5.00 per day.
- There is no limit on the total fees we can charge you for overdrawing your account (though generally they will be charged for each overdraft transaction we pay on your account).
- Fees need to be repaid within 30 days or your Overdraft privilege may be revoked.
To authorize and pay overdrafts on your everyday debit card transactions
If you also want to authorize and pay overdrafts on your everyday debit card transactions:
Call 989-777-3620 OR print and mail the form Here
Mail to: United Financial Credit Union P.O. Box 6430 Saginaw, MI 48608
You may reconsider and change your decision at any time.